Construction Partners, Inc. ROAD
We are a civil infrastructure company that specializes in the construction and maintenance of roadways across Alabama, Florida, Georgia, North Carolina, Oklahoma, South Carolina, Tennessee and Texas. Through our wholly owned subsidiaries, we provide a variety of products and services to both public and private infrastructure projects, with an emphasis on highways, roads, bridges, airports, and commercial and residential developments. Consistent with our vertical integration strategy, our primary operations consist of (i) manufacturing and distributing hot mix asphalt ("HMA") for both internal use and sales to third parties in connection with construction projects, (ii) paving activities, including the construction of roadway base layers and application of asphalt pavement, (iii) site development, including the installation of utility and drainage systems, (iv) mining aggregates, such as sand, gravel and construction stone, that are used as raw materials in the production of HMA and for sales to third parties, and (v) distributing liquid asphalt cement for both internal use and sales to third parties in connection with HMA production.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.81B | $1.82B | $1.56B | $1.30B | $910.7M | $785.7M | $783.2M | $680.1M | $568.2M | — |
| Cost of revenue | $2.37B | $1.57B | $1.37B | $1.16B | $790.8M | $663.5M | $665.3M | $580.6M | $477.2M | — |
| Gross profit | $439.1M | $258.3M | $196.4M | $139.3M | $119.9M | $122.2M | $118.0M | $99.5M | $91.0M | — |
| SG&A | $199.3M | $147.6M | $126.5M | $107.6M | $91.9M | $68.6M | $62.7M | $55.3M | $47.9M | — |
| Operating income | $224.8M | $111.2M | $81.9M | $35.4M | $30.1M | $55.2M | $57.1M | $61.4M | $46.6M | — |
| Interest expense | $90.4M | $19.1M | $17.3M | $7.7M | $2.4M | $3.1M | $1.9M | $1.3M | $4.0M | — |
| Pre-tax income | $134.5M | $92.1M | $65.4M | $28.3M | $28.5M | $52.5M | $55.7M | $60.1M | $40.8M | — |
| Income tax | $32.7M | $23.2M | $16.4M | $6.9M | $8.3M | $12.8M | $13.9M | $10.5M | $14.7M | — |
| Net income | $101.8M | $68.9M | $49.0M | $21.4M | $20.2M | $40.3M | $43.1M | $50.8M | $26.0M | — |
| EPS, basic | 1.85 | 1.33 | 0.95 | 0.41 | 0.39 | 0.78 | 0.84 | 1.11 | 0.63 | — |
| EPS, diluted | 1.84 | 1.31 | 0.94 | 0.41 | 0.39 | 0.78 | 0.84 | 1.11 | 0.63 | — |
| Shares, diluted (wtd. avg.) | $55.4M | $52.6M | $52.3M | $52.0M | $51.8M | $51.6M | $51.4M | $45.9M | $41.6M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $156.1M | $74.7M | $49.1M | $35.6M | $57.3M | $148.3M | $80.6M | $99.1M | $27.5M | $51.1M |
| Inventory | $155.1M | $106.7M | $84.0M | $74.2M | $53.8M | $38.6M | $34.3M | $24.6M | $17.5M | — |
| Total current assets | $934.8M | $585.0M | $473.4M | $417.2M | $300.0M | $331.6M | $280.0M | $267.5M | $175.1M | — |
| Property, plant and equipment | $1.15B | $629.9M | $505.1M | $481.4M | $404.8M | $237.2M | $205.9M | $178.7M | $115.9M | — |
| Goodwill | $943.3M | $231.7M | $159.3M | $129.5M | $85.4M | $46.3M | $38.5M | $32.9M | $30.6M | $30.0M |
| Other intangibles | $79.2M | $20.5M | $19.5M | $16.0M | $4.2M | $3.2M | $3.4M | $3.7M | $2.5M | — |
| Total assets | $3.24B | $1.54B | $1.22B | $1.10B | $806.6M | $628.1M | $531.8M | $496.3M | $328.6M | — |
| Accounts payable | $284.2M | $182.6M | $151.4M | $130.5M | $86.4M | $64.7M | $70.4M | $63.5M | $52.4M | — |
| Short-term debt | $38.5M | $26.6M | $15.0M | $12.5M | $10.0M | $13.0M | $7.5M | $14.8M | $10.0M | — |
| Total current liabilities | $582.0M | $380.5M | $279.2M | $226.1M | $158.0M | $135.8M | $128.2M | $134.5M | $114.5M | — |
| Long-term debt | $1.57B | $487.0M | $360.7M | $363.1M | $206.2M | $79.1M | $42.5M | $48.1M | $47.1M | — |
| Total liabilities | $2.33B | $968.4M | $703.1M | $639.6M | $397.7M | $242.9M | $188.2M | $196.8M | $176.4M | — |
| Retained earnings | $417.0M | $315.2M | $246.3M | $197.3M | $175.9M | $155.7M | $115.6M | $72.5M | $21.7M | — |
| Total equity | $912.0M | $573.7M | $516.6M | $455.9M | $408.9M | $400.8M | $343.6M | $299.5M | $152.2M | $156.3M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $291.3M | $209.1M | $157.2M | $16.5M | $48.5M | $105.2M | $55.3M | $66.1M | $46.9M | — |
| Depreciation and amortisation | $144.0M | $80.0M | $68.9M | $68.9M | $49.5M | $39.3M | $31.2M | $25.3M | $21.1M | — |
| Stock-based compensation | $37.0M | $14.4M | $10.8M | $8.0M | $3.5M | $1.6M | $957.0K | $975.0K | $513.0K | — |
| Capital expenditure | $137.9M | $87.9M | $97.8M | $68.9M | $56.3M | $52.6M | $42.5M | $42.8M | $24.4M | — |
| Investing cash flow | -$1.28B | -$307.6M | -$143.4M | -$197.3M | -$263.4M | -$79.4M | -$60.2M | -$89.6M | -$30.7M | — |
| Financing cash flow | $1.07B | $126.1M | -$264.0K | $159.1M | $123.8M | $41.9M | -$13.6M | $95.1M | -$39.8M | — |
| Dividends paid | — | — | — | — | — | — | — | $0 | $31.3M | — |
| Buybacks | $23.5M | $11.3M | $139.0K | $39.0K | $0 | $0 | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-25-053871.
Others in SIC 1600
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| J | JACOBS SOLUTIONS INC. | $17.11B | 61.4x | 4.6% |
| STRL | STERLING INFRASTRUCTURE, INC. | $14.88B | 51.9x | 17.7% |
| FLR | FLUOR CORP | $7.51B | — | -5.0% |
| GVA | GRANITE CONSTRUCTION INC | $5.22B | 30.9x | 10.4% |
| KBR | KBR, INC. | $4.64B | 11.5x | 1.0% |
| ORN | Orion Group Holdings Inc | $375.6M | 154.7x | 7.0% |
| SHIM | Shimmick Corp | $155.8M | — | 2.6% |
| SLND | Southland Holdings, Inc. | $35.2M | — | -21.2% |